EUR/USD found support this week at 50% retracement level of the 1.3672 – 1.3905 rally. In the 1H chart, you can see 3 factors of support.
1) 1.3788: 50% retracement of the 1.3672-1.3905 rally.
2) 200-hour simple moving average
3) falling channel resistance that was broken last week.
Bullish Continuation: Rebounding from these support factors suggests continuation of April’s bullish mode for the pair…

continue reading »

As we begin the 4/15 US session, the EUR/USD is just above 50% retracement of last week’s rally from 1.3672 to 1.3905. It is also hovering above the 200-hour simple moving average. Downside risk: During the 4/15 session, a break below 1.3790 should open up 1.3761, 61.8% retracement. Bullish continuation: A return above 1.3835 clears the session and would be a sign of bullish continuation , which first should challenge the 1.39-1.3905 resistance. At least we should anticipate a rally to “fill the gap” by pushing to 1.3880…

continue reading »

EUR/USD is retreating after tagging 1.3905 to end last week. As we get started in the 4/14 US session, the pair is testing the 1.3810-1.3820 area, which may provide support. This area includes a previous resistance as well as 38.2% retracement. The 4H stochastic is also falling towards 20, oversold level. If there is some further downside risk in the near-term, look for support around 50% retracement, which is reinforced by the 100 and 50 SMAs in the 4H chart…

continue reading »

EUR/USD will be starting this week just under 1.39, which acted as resistance to end the week. We also see a slight dip to start the week as the market trades EUR/USD during the 4/14 Asian session. Overbought: The daily stochastic reading is around 90, which is overbought, so we can expect some intra-session bearish attempt. However, the overall bullish trend seen in the daily chart appears intact, and the EUR/USD looks poised to test 1.3966 after resolving the overbought condition…

continue reading »

EUR/USD has been bullish all week, mainly because traders are walking back expectations of a 2015 Fed rate hike. This was somewhat confirmed on Wednesday’s release of the FOMC minutes, which revealed that members also felt it was premature to make rate hike predictions. We saw the USD try to fight back on Thursday, but it was a weak attempt across the board. The USD briefly found support, and the EUR/USD retreated from the 1.3905 high…

continue reading »

EUR/USD is on a tear, as the currency trades just under the 1.39 line on Friday. The euro has gained close to 200 points this week against the sagging US dollar. The greenback failed to make a dent in the euro rally despite an excellent reading from US Unemployment Claims. On Friday, German inflation indicators were weak […]

The post EUR/USD – Robust Euro Flirts With 1.39 appeared first on MarketPulse.

continue reading »

EUR/USD has rallied sharply so far this week, from below 1.37 during last Friday’s (4/4) session to almost 1.39 during Wednesday ‘s (4/10) US session. (eurusd 4h chart, 4/10) The 4H chart shows a pair that has broken above a falling channel that formed after EUR/USD retreated from the 2014-high at 1.3966. This price action suggests bullish continuation, as it also cleared above the 200-100-50 moving averages in the 4H chart, and above the 1 month high at 1.3875. Although the mode is bullish, the 4H chart shows overbought stochastic levels. We might be looking at an intra-session or short-term, a week or 2, of correction/consolidation against this week’s upswing. If the market is to remain bullish, the 1.3815-20 area, which was a recent resistance area, can now turn back to support. However, a break below 1.3775 might keep the EUR/USD in sideways consolidation mode. At this point, only a break below 1.3640 should open up a bearish outlook in the medium term. The daily chart shows that the prevailing trend is indeed bullish. It also shows that a if the market breaks below 1.3640, it would also clear a rising channel, which also suggests a bearish outlook. (eurusd daily chart 4/10)   Fan Yang, CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes. Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.

continue reading »

After coming up from Friday’s price bottom, EUR/USD extended its 4/7 rally during the 4/8 European session. The 4H chart shows a market that briefly consolidated under 1.3740, then popped up as the European session got underway. Note that the 4H stochastic is overbought, and price is testing a projected falling resistance. There could be some near-term resistance around 1.3775, as price stalls there with US traders getting into the session…

continue reading »